JPMorgan Chase & Co. Sells 238,432 Shares of AxoGen, Inc. (NASDAQ:AXGN)

JPMorgan Chase & Co. decreased its position in shares of AxoGen, Inc. (NASDAQ:AXGN) by 43.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 310,568 shares of the medical equipment provider’s stock after selling 238,432 shares during the quarter. JPMorgan Chase & Co. owned about 0.71% of AxoGen worth $5,118,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. State Street Corp raised its position in shares of AxoGen by 11.9% during the third quarter. State Street Corp now owns 896,674 shares of the medical equipment provider’s stock worth $12,571,000 after purchasing an additional 95,051 shares during the period. Barclays PLC increased its stake in AxoGen by 119.3% during the 3rd quarter. Barclays PLC now owns 72,036 shares of the medical equipment provider’s stock worth $1,010,000 after purchasing an additional 39,182 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of AxoGen by 3.2% in the third quarter. Geode Capital Management LLC now owns 1,010,508 shares of the medical equipment provider’s stock valued at $14,170,000 after buying an additional 31,612 shares during the period. Franklin Resources Inc. boosted its holdings in shares of AxoGen by 9.8% in the third quarter. Franklin Resources Inc. now owns 76,048 shares of the medical equipment provider’s stock valued at $1,084,000 after buying an additional 6,767 shares during the period. Finally, Principal Financial Group Inc. bought a new stake in shares of AxoGen during the third quarter worth $207,000. Institutional investors own 80.29% of the company’s stock.

Insiders Place Their Bets

In other AxoGen news, Director Amy Mcbride Wendell sold 5,000 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $20.02, for a total value of $100,100.00. Following the sale, the director now owns 97,899 shares of the company’s stock, valued at approximately $1,959,937.98. This trade represents a 4.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Erick Wayne Devinney sold 15,111 shares of the business’s stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $17.50, for a total value of $264,442.50. Following the transaction, the insider now directly owns 217,762 shares of the company’s stock, valued at $3,810,835. This trade represents a 6.49 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 7.00% of the company’s stock.

AxoGen Stock Performance

NASDAQ:AXGN opened at $15.57 on Friday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.47 and a current ratio of 3.74. AxoGen, Inc. has a fifty-two week low of $5.55 and a fifty-two week high of $21.00. The company has a market cap of $690.44 million, a price-to-earnings ratio of -48.66 and a beta of 1.00. The stock has a fifty day moving average price of $17.65 and a 200-day moving average price of $16.09.

Analysts Set New Price Targets

AXGN has been the subject of several recent research reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $24.00 price objective on shares of AxoGen in a research report on Wednesday, March 5th. Canaccord Genuity Group upped their price target on AxoGen from $22.00 to $26.00 and gave the stock a “buy” rating in a research report on Wednesday, February 26th. Finally, Lake Street Capital assumed coverage on shares of AxoGen in a research report on Monday, March 17th. They issued a “buy” rating and a $30.00 target price for the company. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $22.60.

AxoGen Company Profile

AxoGen, Inc, together with its subsidiaries, develops and commercializes technologies for peripheral nerve regeneration and repair worldwide. The company’s products include Avance Nerve Graft, a biologically active off-the-shelf processed human nerve allograft for bridging severed peripheral nerves without the comorbidities associated with a second surgical site; AxoGuard Nerve Connector, a porcine submucosa extracellular matrix (ECM) coaptation aid for tensionless repair of severed peripheral nerves; AxoGuard Nerve Protector, a porcine submucosa ECM product that is used to wrap and protect damaged peripheral nerves, as well as reinforces the nerve reconstruction while preventing soft tissue attachments; and Axoguard HA+ Nerve Protector, a processed porcine submucosa ECM base layer with a hyaluronate-alginate gel coating designed to provide short- and long-term protection for peripheral nerve injuries.